Affordable Housing, Community Development, Reports and Publications

Brief: Rents Rise; Renter Incomes Don’t

 

Rents across the country continue to rise despite stagnating or declining renter household incomes, according to a new Housing Spotlight brief from the National Low Income Housing Coalition (NLIHC). This has led to an increase in the number of renters paying more than 30% -  and in many cases more than 50% - of their income on housing. The percentage of renters spending more than 30% of their income on housing rose to 53% in 2010, from 50% in 2008.

This national data corresponds with the findings of HousingInCT2011, the Partnership’s annual assessment of housing affordability. HousingInCT2011 found that 51% of Connecticut renters pay more than 30% of their income on housing, while 27% are severely burdened, paying more than 50% of their income.

The NLIHC Brief also finds that homeownership nationwide continues to decline, driving increases in the number of renters and that units at the affordable end of the rental market are declining, with one million fewer units renting for $500 a month or less in 2010 than there were in 2007.

To Learn More:
Read the Brief
HousingInCT2011

 

 
 

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